Heavy Buying Alert: Ashish Kacholia’s Portfolio Multibagger Penny Stock Below Rs 35 Hit Upper Circuit; Board To Raise Rs 500 Crore via Rights Issue
From Rs 1.95 per share to Rs 32.37 per share, the stock gave multibagger returns of 1,560 per cent in 5 years.
On Tuesday, shares of this multibagger penny stock hit a 5 per cent upper circuit to Rs 32.37 per share from its previous closing of Rs 30.83 per share. The stock is up by 87.6 per cent from its 52-week low of Rs 17.07 per share.
The stock name is JYOTI STRUCTURES LIMITED.
Established in 1974, Jyoti Structures Limited is a leading power transmission company headquartered in Mumbai, India. They specialize in turnkey projects for transmission lines, substations and distribution systems, offering a comprehensive range of services from design and manufacturing to construction globally. Jyoti Structures Limited is one of the few EPC service providers with the capability to execute entire power transmission projects.
Jyoti Structures Limited has received Board approval for a rights issue of up to Rs. 500 crores. The company plans to issue equity shares to eligible shareholders, subject to regulatory approvals and compliance with SEBI regulations, the Companies Act, 2013, and other relevant laws. The Board or a designated committee will finalize the specific terms of the issue, including the issue price and record date.
Jyoti Structures Limited has secured several significant contracts in the transmission line sector. The company has received a Letter of Acceptance from Adani Energy Solutions Limited for a turnkey project involving the construction of a 765 kV DC Bhuj II-Lakadia transmission line in Navinal, Gujarat, valued at Rs 450.01 crore (excluding GST). Additionally, Jyoti Structures has won contracts from a leading private developer for tower supply and from Adani Energy Solutions Limited for the construction and partial supply of 765 kV transmission lines in Gujarat, totalling Rs 223.31 crore. These projects are expected to be completed by April 2026 and October 31, 2025, respectively.
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Results: The net sales increased by 32 per cent to Rs 107.49 crore while net profit decreased by 37 per cent to Rs 7.06 crore in Q2FY25 compared to Q2FY24. In H1FY25, the net sales decreased by 27 per cent to Rs 195.78 crore and net profit decreased by 11 per cent to Rs 12.15 crore compared to H1FY24. In its annual results, the net sales increased by 96.9 per cent to Rs 451.38 crore in FY24 compared to Rs 229.23 crore in FY23. The company reported a net profit of Rs 28.86 crore in FY24 compared to a net loss of Rs 4.07 crore in FY23, an increase of 809 per cent.
Jyoti Structures Ltd has a market capitalization of over Rs 2,800 crore. An ace investor - Ashish Kacholia owns 2,20,36,118 shares or 2.52 per cent stake in the company as of September 2024. From Rs 1.95 per share to Rs 32.37 per share, the stock gave multibagger returns of 1,560 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.